LAFARGE TO BUY TATA STEEL CEMENT UNIT FOR Rs550 CR
Article Abstract:
Lafarge SA of France is buying the cement division of Tata Steel for Rs550 crore. The cement division has a turnover of Rs318 crore and consists of 2 units, one at Jojobera in Bihar and the other at Sonadih in Madhya Pradesh, with a combined production capacity of 1.73 million tonnes. According to Lafarge SA, the transaction is subject to necessary approvals and Rs550 crore is subject to variation in the value of the net working capital. The acquisition marks the entry of Lafarge SA into the cement business in India. (tsm)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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LAFARGE TO RETAIN 75% OF TATA STEEL'S CEMENT WORKFORCE
Article Abstract:
Lafarge SA of France, which is to acquire Tata Steel's cement division, has agreed to retain 75 percent of the existing workers in the two cement units. Lafarge plans to offer separation schemes to about 300 workers out of the total 1200 employees working at Tata Steel's Jojobera and Sonadih plants. The Tata Steel brandname of cement will also be replaced with a new brandname by Lafarge. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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